This ad will be closed automatically in X seconds.

Footfall predicted to rise over 15% on Black Friday

After a disappointing October, Black Friday could see an uplift in sales at UK retail destinations of more than 15% compared to 2021, according to shopper analytics expert Springboard, as consumers seek out Christmas deals before inflation begins to bite.

Setting out her forecast for Black Friday 2022, Springboard’s marketing and insights director Diane Wehrle pinpointed shoppers’ desire to make the most of available discounts to purchase Christmas gifts as they endeavour to outpace inflation – just announced to have risen to 11.1% – as one reason for the expected spike in footfall. A further driver over Black Friday is likely to be potential stock shortages of desired gifts due to increased supply costs incurred by retailers, which may limit stock replenishment. This is likely to provide a greater incentive for shoppers to purchase Christmas gifts early rather than wait and run the risk of their favoured gift being out of stock.

Springboard has been tracking footfall on Black Friday since 2014, and in each year up to 2019 footfall on Black Friday was at least +15% higher than the week before. But the outcomes for retail destinations on an annual basis have varied from year to year, ranging from a rise of +9.8% (2014) to a drop of -5.4% (2018) with a modest uplift of +3.3% in 2019. Over the two Covid years of 2020 and 2021 footfall on Black Friday was unsurprisingly way outside of what had been the norm; the increase from the week before was lower (+9.2% in 2020 and +6.9% in 2021) and the change on an annual basis swung from -60.1% in 2021 to +106.1% in 2021.

Springboard is forecasting that this year footfall across UK retail destinations on Black Friday will be +15.9% higher than on Black Friday 2021.

“As household budgets become increasingly squeezed shoppers become more discerning in their purchasing decisions,” said Diane. “This creates a greater desire amongst shoppers to browse and purchase in physical retail stores rather than online, as they are able to engage more fully with the product and feel more confident that they are making the correct purchasing decision. The greater attraction of physical shopping is also being compounded by the increase in postage charges for delivery and returns for online purchases that are increasingly being introduced.

“In addition to this, for many shoppers Black Friday will provide the first opportunity this year to savour the Christmas spirit and to enjoy the Christmas decorations and lights installed in high streets and shopping centres, particularly as many shoppers stayed away from physical stores over the previous two years.”

Springboard predicts a rise in footfall compared to 2021 across the three key retail destination types – high streets, shopping centres and retail parks – with shopping centres benefiting the most.

According to Springboard’s insights, shopping centres are particularly attractive over Black Friday as their retailers tend to actively participate in Black Friday discounts that consumers will be looking to make the most of. Springboard predicts an increase in footfall of +16.3% versus +13.2% in high streets and +8.5% in retail parks.

The greater uplift in footfall from last year in shopping centres will be due to a larger rise from the previous Friday than in high streets or retail parks (+20.1% in shopping centres vs +15.7% in high streets and +11.8% in retail parks).

Last year footfall in high streets on Black Friday declined from the week before by -0.3% versus rises of +17.3% in shopping centres and +11.8% in retail parks.  However, this was likely to have been an anomaly of Covid, whereby shoppers were cautious about visiting congested town centres in contrast to the perceived greater safety of larger managed spaces such as shopping centres and retail parks.

In every year prior to Covid footfall in high streets rose by more than +10% on Black Friday, averaging +19.9% between 2014 and 2019 and peaking at +29.3% in 2014, +21.3% in 2016 and +25% in 2019. In contrast, the week-on-week increase in footfall in shopping centres on Black Friday over the equivalent six-year period averaged +25.2% and +18.4% in retail parks.

Despite the forecast increase in footfall on Black Friday from the previous week and from 2021, footfall across all retail destinations will remain -7.8% lower than on Black Friday in 2019. In high streets the gap from the 2019 footfall level will be -9.5% and -12.1% in shopping centres but footfall in retail parks will rise to +0.5% above the 2021 level.

Want to read more news like this? Simply sign up to our daily digest by clicking here. You can also follow @LicensingSource on Twitter and @licensing_source on Instagram.

MORE NEWS
MikeColes500x500
 
Mike Coles, group md at Blues Group, on changes in strategy beginning to bear fruit and increasing sales year on year....
PinkKey500x500
 
Agency secures mobile accessories deal for Pringles, as well as renewals with four key SLUSH PUPPiE partners....
CubeIsleofMan500x500
 
"We’re looking forward to leveraging our global licensing, merchandise and retail experience and bringing to life the unique IOM TT atmosphere."...
MTVRS500x500
 
“We are thrilled to collaborate and create a collection of apparel that celebrates the band and MTV’s influence on the global music industry," says Bravado's David Boyne....
LGreeneNT500x500
 
The range features eight historic wallpaper designs adapted and recoloured for use within the modern interior....
job
 
The museum is looking to further grow its commercial team, seeking a brand licensing senior creative manager....
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.